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OpenAI is valued at $1.25 trillion as AI spending growth stalls

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Written by manual day: written and reviewed in a Claude session. "Re-cited" means the fact was found in another source about the same story, and the citation was corrected. Removed statements never reached the post.

• Confirmed headline

  OpenAI is valued at $1.25 trillion as AI spending growth stalls

• Confirmed quote

  The era of hypergrowth may be over

• Confirmed dek

  OpenAI is valued at $1.25 trillion while Ramp data shows AI spending stalling, Google takes over a troubled data centre project, Meta's Muse builds custom spaces and Amazon lets you text Alexa to shop.

• Confirmed what_happened[0]

  OpenAI is valued at $1.25 trillion after raising another $11 billion, Bloomberg reports, while Ramp data shows AI spending flattening.

• Confirmed what_happened[1]

  Crusoe sold an unfinished Wyoming data centre project to Google, which plans to invest $17 billion in it.

• Confirmed what_happened[2]

  Meta's Muse agents can now build custom spaces, like trackers and planners, from a description in chat.

• Confirmed sections[0]

  OpenAI is now valued at $1.25 trillion in a new round of funding that has raised another $11 billion, according to Bloomberg, The Verge reports.

• Confirmed sections[0]

  That comes not long after OpenAI raised $122 billion from investors in March at a valuation of $852 billion.

• Confirmed sections[0]

  Bloomberg says OpenAI is still pursuing more investment that could take the round to $20 billion, after it had initially hoped to raise as much as $30 billion at a $1.4 trillion valuation.

• Confirmed sections[0]

  At the same time, a new report from Ramp shows AI spending flatlined over late summer even as token volumes rose.

• Confirmed sections[0]

  According to Ramp's data, token spend grew only 1.5% across August and September, after growing 42% in July from the previous month.

• Confirmed sections[0]

  October did see a re-acceleration, with token spend up 8.9% from September 23 to October 23.

• Confirmed sections[0]

  Ramp's lead economist Ara Kharazian told TechCrunch that almost all AI spending comes from venture-backed, high-growth tech companies.

• Confirmed sections[0]

  He said the slowdown is not a demand problem and pointed instead to competition: in September, OpenAI cut API prices in half for GPT-6 Sol and GPT-6 Luna.

• Confirmed sections[0]

  OpenAI's rival Anthropic filed its S-1 to go public last week, The Verge reports.

• Confirmed section title

  OpenAI hits a $1.25 trillion valuation as AI spending growth stalls

• Confirmed card[0] hook

  OpenAI is now valued at $1.25 trillion, Bloomberg reports.

• Confirmed card[0] point

  The new round raised another $11 billion and could reach $20 billion.

• Confirmed card[0] point

  Ramp says AI token spend grew just 1.5% across August and September.

• Confirmed card[0] point

  In July, that spending had grown 42% from the month before.

• Confirmed card[0] take

  Cheaper AI prices may be capping how fast AI companies grow.

• Re-cited card[0] ask

  Is the AI money boom slowing down?

• Confirmed card[0] duo line 1

  OpenAI is now valued at $1.25 trillion, Bloomberg reports.

• Confirmed card[0] duo line 3

  But Ramp says AI spending grew just 1.5% in August and September.

• Confirmed card[0] duo line 5

  In July, that spending had grown 42% from the month before.

• Confirmed card[0] duo line 7

  Ramp's economist says price cuts, like OpenAI halving some API prices, made AI cheaper to use.

• Confirmed sections[1]

  Crusoe, a Denver-based data center developer recently valued at $30.9 billion, confirmed Friday it has sold an unfinished data center project in southeastern Wyoming to Google.

• Confirmed sections[1]

  Google, which Crusoe had tried and failed to land as a customer for the project, is taking over the development after reportedly raising concerns about its cost and construction timeline.

• Confirmed sections[1]

  Google did not disclose how much it paid, but it announced plans to invest $17 billion to develop the data center campus.

• Confirmed sections[1]

  Crusoe first announced the project last year with infrastructure company Tallgrass, planning to eventually scale it to 10 gigawatts of power capacity.

• Confirmed sections[1]

  TechCrunch says the deal shows how hard it can be for independent developers to deliver massive projects on time and within budget, given the challenges of securing equipment and power.

• Confirmed sections[1]

  Crusoe is still developing another data center for Google near Amarillo, Texas.

• Confirmed sections[1]

  Separately, OpenAI announced that it won't use non-disclosure agreements with public officials on its data center projects, after midterm voters voiced their opposition to data center expansion, The Verge reports.

• Confirmed sections[1]

  OpenAI says it will pay the full cost of the electricity it uses and of the infrastructure needed to serve it.

• Confirmed sections[1]

  In October, Amazon announced it would no longer use NDAs with government agencies on data center projects.

• Confirmed section title

  Google takes over a troubled Wyoming data centre as OpenAI drops NDAs

• Confirmed card[1] hook

  Google bought a troubled Wyoming data centre project and plans to invest $17 billion.

• Confirmed card[1] point

  Crusoe had planned to scale the site to 10 gigawatts of power.

• Confirmed card[1] point

  Google reportedly worried about its cost and timeline under Crusoe.

• Confirmed card[1] point

  OpenAI says it won't use NDAs with officials on data centres.

• Confirmed card[1] take

  Data centre fights are now shaping where AI gets built.

• Re-cited card[1] ask

  Should data centre deals be made in public?

• Confirmed card[1] duo line 1

  Crusoe sold an unfinished data centre project in Wyoming to Google.

• Confirmed card[1] duo line 3

  Google plans to invest $17 billion to build out the site.

• Confirmed card[1] duo line 5

  Crusoe had planned to scale it to 10 gigawatts of power.

• Confirmed card[1] duo line 7

  Separately, OpenAI says it won't use non-disclosure agreements with public officials on its data centres.

• Confirmed sections[2]

  Meta has launched Spaces, a new way to work with its Muse AI agents, TechCrunch reports.

• Confirmed sections[2]

  Meta says users can describe an idea in chat and Muse builds a space, such as a tracker, a planner or a project board.

• Confirmed sections[2]

  The Verge reports examples like a shopping hub, a school dashboard, a music tracker and a trivia game.

• Confirmed sections[2]

  If users connect outside apps such as Gmail, Google Calendar, OpenTable or Notion, Muse keeps pulling information from them to update prices, dates and other details in the background.

• Confirmed sections[2]

  Mark Zuckerberg, Meta's founder and CEO, posted on X that he had made a BBQ game, an event tracker and a home control dashboard with spaces.

• Confirmed sections[2]

  Spaces is the second new Muse feature in a week: on Thursday, Meta made Muse Voice, which lets users video chat with their agent, available to everyone in the US.

• Confirmed sections[2]

  During its earnings call in October, Zuckerberg said Meta's agents had 10 million users in the US and Canada, less than two months after they debuted.

• Confirmed section title

  Meta's Muse agents can now build custom spaces

• Confirmed card[2] hook

  Meta's Muse can now build app-like spaces from a chat message.

• Confirmed card[2] point

  Describe an idea, and Muse builds a tracker, planner or project board.

• Confirmed card[2] point

  Connected apps like Gmail keep each space updated in the background.

• Confirmed card[2] point

  Zuckerberg says the agents had 10 million users in the US and Canada.

• Confirmed card[2] take

  Try describing one weekly chore and see what Muse builds.

• Re-cited card[2] ask

  Would you let an AI build your apps?

• Confirmed sections[3]

  Amazon is launching a feature that lets customers chat with its Alexa AI agent over text messages to help them shop, TechCrunch reports.

• Confirmed sections[3]

  Select US customers will get a text asking them to turn on the feature, and others can join a waitlist as it rolls out more broadly in the coming weeks.

• Confirmed sections[3]

  The Verge reports that users can describe a product or send a photo, and Alexa for Shopping will search Amazon listings, text back recommendations and order the item for them.

• Confirmed sections[3]

  The text agent can manage lists, keep tabs on prices, search for items across the web, compare products and check the status of orders.

• Confirmed sections[3]

  Amazon says Alexa will learn users' preferences over time and suggest items accordingly.

• Confirmed sections[3]

  The contact appears in a user's phone as Amazon Alexa.

• Confirmed sections[3]

  The move comes after Amazon blocked Meta's Muse from querying its site in September, and just before the start of the holiday shopping season.

• Confirmed sections[3]

  TechCrunch notes that last month DoorDash said third-party agents had placed only hundreds of orders in total on its platform, and that it plans to focus on its own text-based agent.

• Confirmed section title

  Amazon now lets you text Alexa to shop

• Confirmed card[3] hook

  You can now text Alexa to find and buy things on Amazon.

• Confirmed card[3] point

  Select US customers get an invite; others can join a waitlist.

• Confirmed card[3] point

  Send a photo of an item and Alexa finds similar listings.

• Confirmed card[3] point

  Amazon blocked Meta's Muse from querying its site in September.

• Confirmed card[3] take

  Check what Alexa can buy for you before you turn texting on.

• Re-cited card[3] ask

  Would you shop by texting an AI?

• Confirmed card[3] duo line 1

  Amazon now lets some US customers text Alexa to shop.

• Confirmed card[3] duo line 3

  You describe what you want, or send a photo, and Alexa finds it and orders it.

• Confirmed card[3] duo line 5

  Amazon says Alexa will learn your preferences over time.

• Confirmed card[3] duo line 7

  This comes after Amazon blocked Meta's Muse agent from its site in September.

• Confirmed why_it_matters[0]

  The AI race is getting richer and cheaper at the same time: OpenAI's value keeps climbing while Ramp sees spending growth slow as prices fall.

• Confirmed why_it_matters[0]

  If the price war continues, users win, and AI companies may grow more slowly than investors expect.

• Confirmed why_it_matters[1]

  Data centres are now a public issue: after the midterms, OpenAI is promising more openness and to pay its own power costs.

• Confirmed why_it_matters[1]

  Google's takeover in Wyoming shows how hard these huge builds can be.

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These 1 passed the checks but were left out of the final post (for example a spare summary bullet), so they are not counted above.

• Not used what_happened[3]

  Amazon is letting select US customers text Alexa to search for, compare and buy products.